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TME notes today how flushed the market already is.
From Panic Selling To FOMO Buying
From panic to FOMO in record time. Tech is back, volatility is collapsing, and the positioning washout has left plenty of fuel for another squeeze. CTAs are short, vol-control funds have slashed exposure, and investors are chasing the very stocks they dumped days ago. The speed of the reversal is extraordinary. The question now is whether the squeeze has enough fuel to challenge the top of the range.
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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
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